One year ago Trump was elected President – Here’s what happened today

Original Link | RockwellTrading by Markus Heitkoetter

The major indices opened flat and were exceptionally quiet in the morning. In the first 90 minutes of the session the S&P traded in a 3-4 point range.

But in the afternoon stocks finally moved. Led higher by the NASDAQ, the major indices rallied. And by the end of the session the S&P, DOW, and NASDAQ were all trading with new record highs.

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Here’s where the major indices ended the day:

• The S&P finished 0.1% higher. Up 4 points, the S&P ended at 2,594.
• The DOW ended flat. Adding just 6 points, the DOW closed at 23,563.
• The NASDAQ was up 0.3%. With a 21 point gain, the NASDAQ finished at 6,789.

Crude Oil (CL) was all over the place, struggling to pull away from the $57 mark. In the end CL finished with a 0.7% loss at $56.82 a barrel. Today’s Crude Oil Inventories were a bit of a surprise, showing that U.S. stockpiles increased by 2.2 million barrels compared to the 2.5 million barrel decrease that was expected.

Snap (SNAP) got crushed today after an earnings miss, losing 14.6%.

In other news, the U.S. rejected AT&T’s (T) deal to acquire Time Warner (TWX), which sent Time Warner down 6.5%. And Carl Icahn was subpoenaed today as authorities look into his role as Trump’s adviser on deregulation.

Bitcoin continues to wow traders…the cryptocurrency skyrocketed to $7,800 today, before slamming back down to $7,200.

And today is the one year anniversary of President Trump being elected. The S&P is up 21% since the election!

Looking at the economic calendar, we have weekly Unemployment Claims at 8:30am ET. We’ll also get a peak at retail sales with Macy’s (M) and Kohl’s (KSS) reporting in the morning.

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